HNW client percentage for Enterprise firms serving clients in Maryland

High-net-worth (HNW) client percentage represents the share of a firm's clients who meet the SEC’s high-net-worth threshold, signaling the type of clients a firm primarily serves. For enterprise firms—those with 300 to 3,000 advisors or over $30 billion in assets—this metric reflects a mix of client segments, from affluent and mass-affluent individuals to ultra-high-net-worth families, shaped by the firm’s structure and service offerings.

In Maryland, among 79 enterprise firms, the median HNW client percentage is 14.87%, which is somewhat lower than the national median of 20.44%. The distribution shows a broad range, with some firms serving almost exclusively non-HNW clients and others having a significant HNW focus. This suggests that many Maryland enterprise firms lean toward serving a wider client base with lower minimums, while a smaller portion concentrate more heavily on high-net-worth individuals. The variation can reflect different business models—some firms may be in earlier growth stages building their HNW practices, while others intentionally maintain a more inclusive client mix.

For you, understanding a firm’s HNW client percentage helps clarify its typical client profile and service approach. A higher percentage often means more tailored, complex planning suited for wealthier clients, while a lower percentage may indicate broader access and more standardized offerings. There’s no single “right” number; it depends on your financial situation and preferences. Use this metric alongside others to find a firm that aligns with your needs and goals.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.